Surgery Partners, Inc. (NASDAQ:SGRY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Surgery Partners, Inc. (NASDAQ:SGRY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $22.1818.

SGRY has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Surgery Partners in a research note on Wednesday, March 4th. UBS Group reiterated a “buy” rating on shares of Surgery Partners in a research note on Wednesday, March 11th. Zacks Research upgraded Surgery Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 4th. US Capital Advisors set a $21.00 price objective on Surgery Partners in a research note on Wednesday, March 11th. Finally, Benchmark reiterated a “buy” rating on shares of Surgery Partners in a research note on Tuesday, March 3rd.

Surgery Partners Trading Up 0.1%

Surgery Partners stock opened at $15.14 on Wednesday. The business has a 50 day moving average price of $13.87 and a two-hundred day moving average price of $14.49. The company has a quick ratio of 1.69, a current ratio of 1.86 and a debt-to-equity ratio of 1.17. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -25.23, a price-to-earnings-growth ratio of 4.52 and a beta of 1.96. Surgery Partners has a 12 month low of $11.41 and a 12 month high of $24.10.

Surgery Partners (NASDAQ:SGRY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.12. The firm had revenue of $810.90 million during the quarter, compared to analysts’ expectations of $797.69 million. Surgery Partners had a positive return on equity of 1.04% and a negative net margin of 2.28%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.04 EPS. As a group, equities analysts forecast that Surgery Partners will post 0.25 EPS for the current year.

Surgery Partners announced that its board has authorized a stock repurchase plan on Thursday, February 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Surgery Partners

Several large investors have recently modified their holdings of SGRY. Jones Financial Companies Lllp grew its position in Surgery Partners by 313.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,227 shares of the company’s stock worth $27,000 after acquiring an additional 930 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Surgery Partners by 45,640.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 2,287 shares of the company’s stock worth $49,000 after acquiring an additional 2,282 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Surgery Partners by 128.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,702 shares of the company’s stock worth $58,000 after acquiring an additional 1,519 shares during the last quarter. Fifth Third Bancorp grew its position in Surgery Partners by 5,324.0% during the 1st quarter. Fifth Third Bancorp now owns 4,068 shares of the company’s stock worth $48,000 after acquiring an additional 3,993 shares during the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in Surgery Partners during the 3rd quarter worth approximately $121,000.

Surgery Partners Company Profile

Surgery Partners, Inc operates as a healthcare services provider specializing in the management and ownership of ambulatory surgery centers, surgical hospitals and multispecialty rehabilitation hospitals across the United States. Through its network of facilities, the company coordinates and delivers a broad range of outpatient surgical procedures in specialties such as orthopedics, ophthalmology, otolaryngology, gastroenterology, pain management and general surgery. Its integrated platform offers ancillary services including on-site imaging, laboratory testing, infusion therapy and physical, occupational and speech rehabilitation.

Since its establishment in 2010 and subsequent public listing in 2015, Surgery Partners has focused on strategic partnerships with physicians and health systems to expand access to cost-effective outpatient care.